... There have been demonstrations in Venezuela after the Supreme Court took over legislative powers from the National Assembly.Critics say the development takes the country closer to one-man rule under President Nicolas Maduro.The Organisation of American States (OAS) described the move as the "final blow to democracy in the country".The ruling effectively dissolves the elected legislature which has been dominated by the president's opponents.The secretary general of the OAS, Luis Almagro, described the move as a "self-inflicted coup" by Mr Maduro's government. ...

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The move is the latest example of the socialist President Maduro tightening his grip on power, which critics say he has been doing for months, amid a deepening economic crisis in the country.The National Assembly's lawmakers were pictured scuffling with members of the National Guard while protesting outside the court on Thursday.The Speaker of Venezuela's National Assembly, Julio Borges, addressed the media outside the legislative palace in Caracas.He urged the army, which has so far supported the president, to take a stand against him.In a tweet, jailed opposition leader Leopoldo Lopez called on people to take to the streets in order to "reject dictatorship and rescue democracy".

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The crisis has raised international alarm about the stability of Venezuelan demo, which has undergone three attempted military coups since 1992.The US state department called the court's move "a serious setback for democracy."Most regional powers including Brazil, Mexico, Argentina, Peru and Chile have warned that the action is a threat to Venezuelan democracy.Leftist-led Bolivia defended President Maduro, who has yet to comment publicly.Venezuela's foreign ministry accused critics of the government of forming a right-wing regional pact against President Maduro.Foreign Minister Delcy Rodriguez described the OAS is a pawn of US "imperialism".

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Tensions have been high in Venezuela because the country has been engulfed by a severe economic crisis.It has the world's highest inflation rate, and the International Monetary Fund predicts it could reach 1,660% next year.

_________________Go trumpf Go !!!(will the resident return to being the President?)(will the rainbow shack return to being the White House?)

This news broke overnight and it undoubtedly comes as a shock to anyone who hasn’t been paying to socialism in general and the regime of Venezuelan President Nicolas Maduro in particular. The government of Venezuela came in and seized control of the General Motors plant in the city of Valencia, taking over the property, assets and accounts. The automotive giant responded by saying that they were immediately halting operations. (CNN)

General Motors says it will immediately halt operations in Venezuela after its plant in the country was unexpectedly seized by authorities.GM (GM) described the takeover as an “illegal judicial seizure of its assets.”The automaker said the seizure showed a “total disregard” of its legal rights. It said that authorities had removed assets including cars from company facilities.“[GM] strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside of Venezuela, to defend its rights,” it said in a statement.

GM’s Venezuelan operation was already pretty much at the point of stagnation. Productivity was approaching zero because their currency had collapsed and they couldn’t order parts to keep the lines running. Also, the domestic market for cars wasn’t exactly booming because their potential customers have money which is basically worthless and they’re mostly too busy looking for scraps of food to worry about a new set of wheels.

If nothing else, this incident will provide an enlightening, educational moment for the rest of the world. It’s a given that this is bad news for General Motors, for the workers there… let’s just say it. This is bad news for everyone except Maduro and his cronies. But it also serves to further pull away the mask, allowing the rest of the world to see what’s actually going on. So gather around, kids, because we’re not only seeing how socialism ends (and it always ends this way) but also how the socialist machinery operates through the various phases of its life cycle.

Originally, the government tolerates the presence of foreign manufacturing entities such as General Motors to fill needs they have which can’t be handled domestically. (GM has been there for roughly seven decades.) It’s not that the Venezuelan people are incapable of innovation or creation… there’s simply no motivation for them to strive for success. Anything they create simply becomes the property of the state anyway, so the hard working, innovative person doesn’t realize much more success than the guy who can barely keep his eyes open to show up for his job sweeping the sidewalk. There’s no point to being particularly innovative.

So companies such as GM are allowed to go to work. But once the system inevitably begins to implode, the tyrant in charge begins looking for new resources to grab. In the name of the socialist concept wherein everything “belongs to the people” he seizes the GM plant. They take the cars which are there to hand out to high ranking party officials and divide up the assets while demanding that the workers get back to producing automobiles. This is, of course, impossible because they don’t have the parts to do it and the people who actually know how to run things are fleeing.These are the fruits of socialism. It’s a humanitarian disaster to be sure, but it’s also a teachable moment. Watch and learn.

This news broke overnight and it undoubtedly comes as a shock to anyone who hasn’t been paying to socialism in general and the regime of Venezuelan President Nicolas Maduro in particular. The government of Venezuela came in and seized control of the General Motors plant in the city of Valencia, taking over the property, assets and accounts. The automotive giant responded by saying that they were immediately halting operations. (CNN)

General Motors says it will immediately halt operations in Venezuela after its plant in the country was unexpectedly seized by authorities.GM (GM) described the takeover as an “illegal judicial seizure of its assets.”The automaker said the seizure showed a “total disregard” of its legal rights. It said that authorities had removed assets including cars from company facilities.“[GM] strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside of Venezuela, to defend its rights,” it said in a statement.

GM’s Venezuelan operation was already pretty much at the point of stagnation. Productivity was approaching zero because their currency had collapsed and they couldn’t order parts to keep the lines running. Also, the domestic market for cars wasn’t exactly booming because their potential customers have money which is basically worthless and they’re mostly too busy looking for scraps of food to worry about a new set of wheels.

If nothing else, this incident will provide an enlightening, educational moment for the rest of the world. It’s a given that this is bad news for General Motors, for the workers there… let’s just say it. This is bad news for everyone except Maduro and his cronies. But it also serves to further pull away the mask, allowing the rest of the world to see what’s actually going on. So gather around, kids, because we’re not only seeing how socialism ends (and it always ends this way) but also how the socialist machinery operates through the various phases of its life cycle.

Originally, the government tolerates the presence of foreign manufacturing entities such as General Motors to fill needs they have which can’t be handled domestically. (GM has been there for roughly seven decades.) It’s not that the Venezuelan people are incapable of innovation or creation… there’s simply no motivation for them to strive for success. Anything they create simply becomes the property of the state anyway, so the hard working, innovative person doesn’t realize much more success than the guy who can barely keep his eyes open to show up for his job sweeping the sidewalk. There’s no point to being particularly innovative.

So companies such as GM are allowed to go to work. But once the system inevitably begins to implode, the tyrant in charge begins looking for new resources to grab. In the name of the socialist concept wherein everything “belongs to the people” he seizes the GM plant. They take the cars which are there to hand out to high ranking party officials and divide up the assets while demanding that the workers get back to producing automobiles. This is, of course, impossible because they don’t have the parts to do it and the people who actually know how to run things are fleeing.These are the fruits of socialism. It’s a humanitarian disaster to be sure, but it’s also a teachable moment. Watch and learn.

The GM plant isn't doing well because, "they can't access US dollars?" ROFL! The author is either a fucking moron or a disingenuous closet Commie.

The reason that they cannot "access US dollars" is that the Venezuelan central bank is running out of foreign currency reserves. Venezuelan businesses that are dependent on foreign imports must be able to convert their bolívars to dollars in order to pay for those imports. Venezuela GM must purchase some GM parts from abroad in order to build vehicles there. The government won't let them/doesn't have the foreign currency for them to do that. Venezuela GM can't get the parts to build cars.

Hugo and then the Bus Driver nationalized too many businesses. This discouraged foreign investment. The Venezuelan government placed all their eggs into the petroleum basket. Unfortunately, the Venezuelan government sucked up too much money out of the nationalized petro company, didn't spend enough on maintenance and exploration. Oil prices tanked and their economy has been in free fall ever since.

_________________The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.- misattributed to Alexis De Tocqueville

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